Stock Market, Business, and Investing General - News, Tips, etc

Pee Cola said:
Give it another 24 hours and the (((MSM))) will turn WSB into a fully blown anti-Semitic conspiracy, with the rocket emoji being put in the same "hate speech" bucket as the OK symbol and Pepe The Frog. TBH I'm surprised they haven't done it already.


Another example: when gas prices are low, that's a good time to do a bit of research into publicly listed oil companies. Low quality/marginal companies e.g. highly leveraged, poorly managed, high cost of production will get squeezed out (and ffs don't buy those!!), but even the good quality companies get beaten up by the markets when the price of oil goes down.

By good quality, I mean companies with excellent management, little or no debt, low cost of production and preferably some hedging in place. Once the oil price rises again, so should your oil company stocks (assuming they're a good quality play to begin with). Granted, the rise of EVs could put a cap on oil prices in the long term, but oil is used for plenty of things other than transportation.

Investing is a marathon, not a sprint.
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I've been looking into some oil stocks that look pretty affordable and have potential.

I'm also fairly surprised Bank of America's stocks are cheap, like under $50 for a single share last I checked. You'd think a large bank like them would be a lot more of an expensive investment?
 
Binary Code said:
Banks right now make no money
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Makes sense with all these temporary freezes on foreclosures and the lockdowns.

A lot of headlines are saying Bank of America might be a good thing to get in on while it's still cheap. It's probably a bunch of clickbait and wild speculation, but there might be something to it.

Something like banks will always be around and they'll be making money again eventually. Especially once the bigwigs realize they can't keep these freezes and gibs going for too much longer.
 
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Syaoran Li said:
I've never invested in the stock market and have no idea what to do going in.

I'm wanting to invest, but I'm honestly not sure what specifically to do and what to look for. If anyone can help explain it to me in the most simple way possible, that would be very helpful.
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If it seems like too much work/stress/risk/etc. to research and track and invest in individual companies, you can also just throw it in index funds at Schwab/Vanguard/Fidelity that track the entire US stock market or the S&P 500. Obviously you won't get ridiculous returns at the rate GME is getting atm, but the average 1/5/10 year returns lately have been around 15-20% give or take which is pretty good considering the historical average return is about 7%. Also expense ratios are usually super low, so you'll hardly be losing any money to admin fees. They come in the form of either ETFs or mutual funds (this article basically sums up the similarities/differences). If you're using a taxable account (or something like Robinhood), you usually use ETFs, and for tax-deferred accounts like ROTH IRAs usually mutual funds.

Popular examples include VTI/VTSMX (Vanguard's total stock market funds), SCHB/SWTSX (Schwab's total stock market funds), FZROX/FSKAX (Fidelity's total stock market funds), VOO/VTSAX (Vanguard's S&P 500 funds).

See also: https://kiwifarms.net/threads/solidifying-your-asset-worth.62951/#post-5577498
 
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Is it pointless to buy into gme at this point? I'm a complete stock newbie so I have barely a clue about what is even being pulled here.
 
Syaoran Li said:
I've been looking into some oil stocks that look pretty affordable and have potential.

I'm also fairly surprised Bank of America's stocks are cheap, like under $50 for a single share last I checked. You'd think a large bank like them would be a lot more of an expensive investment?
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As an alternative to individual stocks consider passive investing in index funds. If you like the thrill of stock picking and enjoy the process then great but it is still risky and chances of you beating the market and paid traders is low. Index investing is the dumb set it and forget it option.

You wont get a 10x overnight but wont lose your shirt either. Its the Andy Dufresne get my ass out of jail through application of time and pressure option. $100 a month over 20+ years compounded will leave you with a good chunk of change in your later years.

Overall though I'd be careful about putting lots of money into the stock market now as everything seems overvalued, especially given covid, job losses etc. GameStop is a meme but it might expose the frailties in the market behind the wizard of oz gains we are seeing and send everything into a panicked spiral.
 
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Be really, really careful not to be the last person holding the bucket when the bubble ultimately pops. Some people bought in recently and will be burned badly if they ride all the way to the end. This isn't something based on market fundamentals, it's meme energy that could go tits up anytime.

Despite this, it warms my heart to see a scummy headge fund screwed over. It has grown to the point that other funds and lenders could be in real trouble when things come due on Friday. We could literally see it cause a market spiral. Literally trillions lost.

Be very wary of the market as a whole right now. It has become detached from reality and is waiting for a massive correction.
 
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GME Stock Rockets On Musk, Melvin Capital Gives Up ( source | archive )

Tesla CEO Elon Musk kept the GameStop (GME) frenzy going overnight, tweeting out "Gamestonk!!" late Tuesday in reference to the Reddit-led mass short squeeze. Melvin Capital, which had been a prominent GME stock bear, finally threw in the towel, with CNBC reporting Wednesday morning that it's closed out its short position.

GME stock shot up 68% in premarket trading in massive trade to 248. GameStop came well off its overnight high above 350 on the Melvin Capital news. That's after soaring 93% to 147.98 on Tuesday to a record close. GME stock hit an intraday all-time high of 159.18 on Monday. GameStop is up 685% already this year, not including Wednesday's premarket surge.

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Welp, looks like WSB has broken Melvin Capital. As for Elon Musk tweeting about it, I get the feeling GME may have jumped the shark.
 
Pee Cola said:
GME Stock Rockets On Musk, Melvin Capital Gives Up ( source | archive )

Tesla CEO Elon Musk kept the GameStop (GME) frenzy going overnight, tweeting out "Gamestonk!!" late Tuesday in reference to the Reddit-led mass short squeeze. Melvin Capital, which had been a prominent GME stock bear, finally threw in the towel, with CNBC reporting Wednesday morning that it's closed out its short position.

GME stock shot up 68% in premarket trading in massive trade to 248. GameStop came well off its overnight high above 350 on the Melvin Capital news. That's after soaring 93% to 147.98 on Tuesday to a record close. GME stock hit an intraday all-time high of 159.18 on Monday. GameStop is up 685% already this year, not including Wednesday's premarket surge.

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Welp, looks like WSB has broken Melvin Capital. As for Elon Musk tweeting about it, I get the feeling GME may have jumped the shark.
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WSB seems to think CNBC is talking with "sources" from Melvin.

Basically they think this is pull and the hedge funds are trying to convince people it's over and drop the price.

$GME went from $350 to around $230 before market open in about an hour after this news, but let's see what happens when it opens I guess
 
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Cantercoin said:
Ok so who's a good outlet to buy and sell stocks through? I am admittedly a very greenhorn to investing and I've been wanting to for quite a while now and now seems like a very good time to do so
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Cantercoin said:
Is robin hood a good start for beginning investors or should I look somewhere else?
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I use thinkorswim personally. I would recommend against Robinhood, because they’re known for being glitchy.


When Robinhood was down people couldn’t even get a phone number to call someone. This is their company’s only product — pick a platform run by a real investment firm or brokerage.
 
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They are going to have a hard time justifying halting trading for discussions on open public fourms. There is nothing illegal about saying you like a stock and are going to buy it.

Someone is going to lose millions and is going to try and sue them for insider trading. This is basically Wallstreet throwing a tantrum that they are the ones getting fucked this time.
 
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